As agreed in January 2022, the Polish downstream oil and gas group PKN Orlen has completed the sale of Polish assets to Saudi Aramco (Saudi Arabia), including equity stakes of 30% in a 210,000 bbl/d refinery in Gdansk (northern Poland), 100% in an associated wholesale business, and 50% in a plane fuel marketing joint venture with BP, which operates in seven airports in Poland. PKN Orlen and Saudi Aramco have also entered into a crude oil sales agreement, under the terms of which Aramco will supply around 45% of PKN Orlen's crude oil requirements, and signed a joint development agreement on a potential petrochemical project in Gdansk.
The sale was initiated as remedies to competition concerns following PKN ORLEN’s merger with the Polish oil group Grupa LOTOS. As part of this merger, PKN Orlen had also approved the sale of 417 Polish service stations to the Hungarian oil and gas company MOL.
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